Healthcare of Ontario Pension Plan Trust Fund Takes Position in McKesson Co. (NYSE:MCK)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in McKesson Co. (NYSE:MCK) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 150 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors have also recently bought and sold shares of the company. Intrust Bank NA acquired a new position in shares of McKesson in the 4th quarter valued at about $206,000. Allspring Global Investments Holdings LLC grew its position in McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after purchasing an additional 5,425 shares in the last quarter. Heritage Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at approximately $1,538,000. Councilmark Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter valued at $5,160,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McKesson during the 4th quarter valued at $2,487,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.7 %

MCK opened at $600.16 on Friday. The stock’s 50 day moving average price is $582.73 and its two-hundred day moving average price is $542.05. The firm has a market capitalization of $77.98 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.39 and a beta of 0.45. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company earned $7.19 earnings per share. As a group, analysts anticipate that McKesson Co. will post 31.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays boosted their target price on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Robert W. Baird boosted their target price on shares of McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $599.33.

Insider Activity at McKesson

In other news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Susan R. Salka sold 606 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 704 shares of McKesson stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now owns 2,215 shares in the company, valued at $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold 29,567 shares of company stock worth $16,691,841 over the last three months. Company insiders own 0.11% of the company’s stock.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.